Research Says
Welcome to Furniture/Today’s Research blog. Each week we\'ll take a look at interesting research data related to the home furnishings industry. Our focus for the week may come from research we have conducted ourselves or it might be something we’ve come across and just want to share. We hope you’ll use this space too, to share your thoughts or to weigh in with what you think about the topic under discussion. Three members of Furniture/Today’s Research team, Research Manager Dana French and Research Specialists Judi Fulbright and Daphne Garland-McLean, will be sharing this forum, each bringing our own unique perspective. We look forward to hearing from you!
Mattresses + sleep accessories = add-on sales opportunities
More than one-fifth of consumers plan to buy a mattress this year, according to Furniture/Today and HGTV’s The 2010 Consumer Survey. And, data from an exclusive HGTV bedding survey shows that many mattress buyers will purchase much more - sleep accessories - when they buy their new bed. According to the data, six out of ten consumers buy a mattress pad at the same time they buy a new mattre ...... Read More
Comments (1)Has the recession changed how customers will shop?
A resounding YES. That’s one of the conclusions drawn from a recent study of American consumers, conducted by Decitica this past August. A majority of the surveyed consumers either agreed or strongly agreed the recession has permanently altered their buying behavior. In addition, a majority are already doing something about controlling their spending habits. These consumers also reported ge ...... Read More
Comments (0)Got leather stats?
$7.4 billion - That’s the estimated amount of leather retail sales in 2009. Last year, leather comprised 34% of all upholstery sales at retail and 29% of all upholstery unit sales. These figures include leather-covered stationary sofas, stationary chairs, reclining chairs, swivel and glider rockers, motion sofas, sofa-sleepers and futons. More leather stats: Median best-selling price point ...... Read More
Comments (0)Five-year sales growth projections
Retail sales of furniture and bedding, estimated at $71.9 billion in 2009, is predicted to increase 14.0% by 2014 and reach $82 billion, according to statisticians at Easy Analytic Software, Inc., based in New York.This five-year projected growth is welcomed good news on the heels of 2009, where total consumer spending for furniture and bedding decreased 8.8% from 2008. (The 2009 and 2008 figures ...... Read More
Comments (0)In times of uncertainty and frugality, be ready
Early indicators show consumer confidence is improving. According to Reuters and the University of Michigan’s consumer sentiment survey, December’s preliminary reading of 73.4 is one of the highest consumer sentiment readings this year though September registered the highest reading of 2009, 73.5. The RBC CASH (Consumer Attitudes and Spending by Household) Index showed an i ...... Read More
Comments (0)There's no place like home
Has the recession changed the way consumers think about their home?Furniture/Today asked just that question in its exclusive survey, The 2010 Consumer, fielded in partnership with HGTV last September. More than 8,500 U.S. consumers responded to the survey and shared their thoughts on how the recession has affected furniture shopping and buying. Here’s how several responding consumers now th ...... Read More
Comments (3)The quest for quality
Three-fourths of home furnishings shoppers are looking for quality product. That’s one of the key findings from the more than 8,500 U.S. consumers responding to Furniture/Today and HGTV’s exclusive survey, The 2010 Consumer.Here’s what several home furnishings shoppers have to say about quality. “I’m looking for better quality products that will last longer for t ...... Read More
Comments (17)‘Tis the season to be optimistic
The holiday season is upon us and a new survey from American Express reveals that 53% of consumers have intentions on spending more or the same on holiday gifts this year compared to a year ago. This is welcome news for economy and retailers. According to Deloitte’s 24th Annual Holiday Survey, 54% of Americans expect the economy to improve in the upcoming year. And, this has consumers ...... Read More
Comments (0)The cross-shopping phenomenon
Cross-channel shopping, where consumers shop for and research products online, but actually buy at a brick-and-mortar store, is big and appears to be getting even bigger because of the recession. Here are some cross-channel shopping statistics. Due to the economy, 91% of consumers think researching product online makes them more confident about what they buy. Source: PriceGrabber.com 60% of consum ...... Read More
Comments (3)More on upholstery and price points
After the appearance of the Upholstery Fabric & Style Survey in the October 5 issue, Furniture/Today’s research team fielded a call from a supplier who wanted to know the overall breakdown of upholstery unit market share by price point. Since we had not previously calculated those statistics, we quickly derived them and sent them along to the supplier as requested. In all fairness we th ...... Read More
Comments (1)By the numbers: the Internet
1979: Online shopping is invented in the UK by Michael Aldrich 1994: JCPenney goes online 1995: Amazon.com debuts 2000: The dot com investment bust $25.8 billion: Total e-commerce retail sales in 2000 2001: Amazon.com reports its first-ever profit in the 4th quarter 2002: eBay acquires PayPal 2002: CSN Stores is founded $45.5 billion: Total e-commerce retail sales in 2002, an increase of ...... Read More
Comments (2)What’s your holiday season forecast?
Unemployment levels - currently at 9.8% - restricted credit availability and the uncertainty over job security and income are all factors that will have consumers treading lightly with regards to spending this holiday season. And though, Federal Reserve Chairman, Ben Bernanke, declared last month that the recession is very likely over, he did caution that the economy will still feel weak for some ...... Read More
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